Market View 8 April 2010

Ok, I will keep it short for today.
Wall Street closed down in overnight trade "after a
top Federal Reserve official said interest rates should
not stay low for much longer, giving investors an excuse
to take profits." Dow dropped 72 points, S&P 500
gave up 7 points and Nasdaq fell 6 points.
I still maintain the view that it is likely that the Dow will
face strong resistance around the 11100 points region,
so I believe there is still upside from current level, but it
is quite limited and capped ahead.

Obviously, local stocks will open weaker this morning
but I believe that the selling are likely to be capped as well.
I don't see a large-scale sell-off now, but a normal
profit-taking session taking place. I certainly will be looking
for bargains to enter on weakness, but rather selectively this round.
Sticking with the Techs, Offshore and Commodities at the moment.

Somehow, I just got to talk about Genting everyday.
As what you can see, Genting surge past 92cts yesterday but retraced
in the afternoon and closed lower at 90cts. My personal view is
that it should be able to test the resistance again, but if it should
drop back to 86.5cts, then it have to regain momentum again for
the next charge-up.

Enter any position with a Cut-loss level & Trailing Stop,
and Please practice strict (Risk)Money-management.
If you don't like what you see in the market,
simply don't trade.

If you have Skype, and would like to chat with me about
stocks and all others, you can ring me at my
email address: stocklobang@yahoo.com
I have currently a couple of members skyping with me
everyday,and they are having good trading results.

As usual,
Stay Alert but be Aggressive too.
Audentes Fortuna Juvat !!

市场生存座右铭: 风林火山